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Atlas Engineered Products Announces Quarter 2, 2021 Performance Update

General News

Atlas Engineered Products (“AEP” or the “Company”) is pleased to provide an update on the Company’s net revenues for the first two months of the second quarter of 2021.

The Company has carried the strong momentum gained in the first quarter of 2021 into the second quarter of 2021. Revenues for the two months ended May 31, 2021 were $8.9 million which represents a 12.6% increase from the full three month quarter ended June 30, 2020 which had revenues of $7.9 million. The first two months of this quarter has almost reached the full three months ended March 31, 2021 revenues of $9.1 million.

“Continuing our strong organic growth in revenues while navigating the raw material shortages and high raw material costs has been a challenge, but one that the Company has tackled head-on,” said Melissa MacRae, Interim CFO. “The entire team at AEP continues to focus on satisfying our customers needs while producing solid financial results as we push forward through the final month of our second quarter and into the remainder of our fiscal year which is typically the busiest time for our industry.”

The Company’s focus continues to be on the raw material and labour challenges experienced by the construction industry, while also driving forward with further organic growth and production efficiency initiatives.

About Atlas Engineered Products Ltd.

AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada’s truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators.

Source: Atlas Engineered Products Ltd.